By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/JPY is ending the Asian session at 79.21 as the yen weakened as the intervention from the BoJ in the form of additional monetary stimulus became more probable. The BoJ has stated it would expand a bond-back program by JPY10 trillion to weaken the currency and assist the country’s vital export-driven economy, and expectations that further easing policies will continue sent the yen falling.
Also comments after the conclusion of the G8 summit this weekend seemed to help stimulate the markets. The G8 said they would do everything possible to keep Greece as part of the eurozone. Also this morning, the Chinese Premier said that China would do everything possible to kick start their economy.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Economic Data for May 21, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
May 21 |
GBP |
Rightmove House Price Index (MoM) |
0.0% |
2.9% |
|
|
THB |
Thai GDP (YoY) |
0.3% |
-0.5% |
-8.9% |
|
|
NZD |
Credit Card Spending (YoY) |
3.7% |
5.3% |
||
|
JPY |
All Industries Activity Index (MoM) |
-0.3% |
0.0% |
-0.1% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
May 22 |
3:00 |
NZD |
Inflation Expectations q/q |
2.5% |
|
14:00 |
USD |
Existing Home Sales |
4.48M |
|
|
23:50 |
JPY |
Trade Balance |
-0.62T |
|
|
May 23 |
0:00 |
AUD |
CB Leading Index m/m |
0.0% |
|
0:30 |
AUD |
MI Leading Index m/m |
0.2% |
|
|
TBD |
JPY |
Monetary Policy Statement |
||
|
TBD |
JPY |
Overnight Call Rate |
|
|
|
TBD |
JPY |
BOJ Press Conference |
||
|
14:00 |
USD |
New Home Sales |
328K |
|
|
14:30 |
USD |
Crude Oil Inventories |
Click here for further USD/JPY Forecast.
Originally posted here
